Did rail electrification really shield India from the crude oil shock?

India’s railway network today spans nearly 70,117 route kilometres. Now imagine the electrification stuck at just 24%, as it once was. Nearly 76% of the network would still be running on diesel. This meant that annual diesel consumption would still be around more than 287 crore litres. Now place this demand into a world disrupted by West Asia tensions, where crude oil prices are volatile, supply chains are uncertain, and diesel demand is surging. In such a scenario, a largely diesel-run railway network would have meant one thing: A massive economic shock for India! Instead, the story unfolded differently.